Breakup of 'Too Large' Banks Is Urged

Top economists told lawmakers Tuesday that large, systemically important banks should be broken up to avoid turmoil that could topple the broader economy.

"The presumption should be they should be broken up unless a compelling case can be made not to do that," Joseph Stiglitz, a Nobel price-winning economist who teaches at Columbia University, told members of the Joint Economic Committee. "I can see no evidence against breaking them up."